Contained Gold Up By 43%
West African gold explorer, Golden Rim Resources Ltd (ASX: GMR) has announced an significant increase in Mineral Resources for the 100% owned Kouri Gold Project in Burkina Faso.
Completed by independent consultants, RPM Advisory Services Pty Ltd the updated Indicated and Inferred Mineral Resource is estimated at 50 million tonnes at 1.3g/t gold.
The contained gold of 2 million ouncesrepresents an increase of 43%from the contained gold in the previous Mineral Resource released in December 2018.
Meanwhile, the indicated Mineral Resource increased by 41% to 310,000 ounces at 1.4g/t gold.
95%of the Mineral Resource gold ounces lie in the Central Lodes, which comprises the Banouassi Prospect and the previous Mineral Resource area, with considerable Mineral Resource upside remains at Kouri including:
o The more densely drilled Indicated Mineral Resource is 17% higherin gold grade than the Inferred Mineral Resource. Planned infill drilling to increase the Indicated Mineral Resource is likely to have a positive impact on gold grade.
o Most of the multiple, parallel lodes of gold mineralisation that comprise the Mineral Resource are open at depth.
o A shallow, maiden, Inferred Mineral Resource of 48,000 ounces at 3.2g/tgold defined at the East Lodes, predominantly on the high-grade Diabatou Gold Shoot. The bottom of the pit shell on the Diabatou Gold Shoot sits in 10g/t gold mineralisation and deeper drilling offers an outstanding opportunity to add additional high-grade gold ounces.
o Drilling of high priority regional target areas also offers potential for additional high-grade gold mineralisation.
Managing Director, Craig Mackay, said drilling is set to re-commence during this calendar quarter. The company’s primary objectives at Kouri to the end of the June Quarter 2021 are as follows:
o Increase the proportion of Indicated Mineral Resource which currently stands at 14%.
o Increase the gold grade of the Mineral Resource by targeting extensions of the high-grade zones.
o Target and expand additional areas of higher-grade gold mineralisation that could be processed in the early years of a mine development.
o Scoping Study planned to be progressively completed by end of the March Quarter 2021.
o Technically progress the project for the commencement of a Pre-Feasibility Study planned for the September Quarter 2021.
“Importantly, we have been able to increase our Indicated Resource by 41% to 310,000 ounces. The company now intends to proceed with infill drilling, predominantly on the Central Lodes, with the objective of converting areas of Inferred Mineral Resource to Indicated Mineral Resource,” Mr Mackay said.
“In addition, exploration drilling focussed on high-grade gold areas, such as the Diabatou Gold Shoot, will be conducted with the objective of defining higher-grade gold mineralisation that could be processed in the early years of a mine development. Such mineralisation would significantly enhance the project economics.
“A Scoping Study will be progressively completed by the March Quarter 2021 which will provide greater technical and costing definition and assist in focussing both the exploration and infill drilling programs. “Depending on progress in all the preceding matters, the company is contemplating the commencement of a Pre-Feasibility Study towards the beginning of the September Quarter 2021.”
